FCA speech: Consumer Duty – not once and done
Regulatory Updates | 08/11/23
Nisha Arora, Director of Cross Cutting Policy and Strategy, gave a speech three months on from the implementation of the Consumer Duty.
Arora said the Consumer Duty is not a once and done exercise. Firms need to make sure they are learning and improving continuously and must be able to evidence this in their annual board report.
She noted that the Duty remains a top priority for the FCA. They will continue their work across all sectors to test firms’ implementation and embedding and will share good practice to support the industry.